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LEANING AGAINST WIND [1 record]

Record 1 1987-04-09

English

Subject field(s)
  • Currency and Foreign Exchange
  • Translation (General)
CONT

Intervention operations for the Canadian authorities have been conducted for the purpose of smoothing daily variations in the Canadian dollar/US dollar exchange rate. In practice, this has led them to follow a broadly symmetrical approach of "leaning against the wind", intervening almost daily to oppose intra-day rate movements in either direction, usually on a small scale but with growing intensity as the size of daily rate movements increases.

Key term(s)
  • lean against the wind
  • approach of leaning against the wind
  • policy of leaning against the wind

French

Domaine(s)
  • Politique monétaire et marché des changes
  • Traduction (Généralités)
CONT

Les opérations d'intervention des autorités canadiennes ont eu pour but de lisser les variations journalières du taux de change dollar canadien/dollar américain. Cela a conduit concrètement les autorités sur une longue période donne des résultats assez symétriques, en intervenant presque quotidiennement pour résister aux fluctuations des taux à la baisse ou à la hausse dans une même journée; ces interventions ont porté généralement sur un faible volume mais se sont accrues au fur et à mesure qu'augmentait l'amplitude des fluctuations journalières des taux de change.

Spanish

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